Selected Video Clips from Somervell County Hospital District meeting 1/28/2016


Selected Video Clips from Somervell County Hospital District meeting 1/28/2016

29 January 2016 at 1:49:29 PM

Here is the link to the full video, with agenda. I am putting in a rough transcript, please watch the entire clip to hear precisely all said.

CFO Report

Rough draft of the above. -Becky Whitsett
"We presented the quarterly results instead of... this is for the quarter. Admits 118 with a budget of 185...... Brought lab back in house. Expenses for the quarter were $4,129,386 with a budget of $3,959,367. Cash collections. 98.99% 6 days of cash on hand with a budget of 45. Cash flow on the hospital deficit for the first quarter of 52,794 but on 501a have $17,543. On IGT 172,000. Feb 4 expecting IGT 558,000 for UC side. Getting back 1.3 million. 
Compare what came in versus what was budgeted. 
Luminant's bankruptcy. Wanting to pay less than what the hospital was expecting.
Rough draft- Ray Reynolds
The other piece of good news is we did receive a payment from Luminant yesterday. That's the good news, the bad news that's about half of what we expected. Result of bankrupcty trial, trial related to value of the plant. Trial scheduled for Feb 15, will be a bench trial. We're 2 billion dollars apart on the value, that's what's to be decided. If there is a settlement made during the trial, we'll receive whatever difference within 21 days. If appealed, will appeal in Waco court, expect that would be sometime in May to get balance in dollars. .. I think we'll receive the balance by May, were hoping to receive based on value of 1.6 billion, they took the lowest dollar amount, decided in courtroom. Once resolved obligated to pay us within 21 days... Luminant took value of 1.6, CAD has 2.4, once it hit the court last Thursday on change of venue, heard in Johnson County, Luminat asked for continuance, got 2 weeks, judge only allowed that because he was not available during week of Jan 25, when orignally scheduled. Their expert valued the property. County received the same proportional amount that we did. Harrison. What's the date we have to pay our bond payment? Reynolds Feb 15, that's 600,000. 


Property taxes coming from us for the Somervell County Hospital District
Rough transcript: Becky Whitsett
Received 1.7 million

Quality Committee-14 complaints and 3 grievances year to date. Lab has been taken back in house (wonder why?)

Rough Transcript. Kelly
Meeting quarterly now. 1 unplanned admission. No healthcare associated infections within 2015, we have falls in the hospital, all falls whether patients, inpatients, outpatients, 2 in Sep 0 in Oct 4 in Nov (one was a visitor). ED patients accuity level, commitee has decided not to report on this every quarter.
COO Report

Rough transcript. Michael Honea

No medicare money on the table. Some medicaid money left. Last year of medicaid. No money on the table. 

Pecan Plantation expansion (taking out another loan to fix up the clinic that is in Hood County's hospital district)

Rough transcript:

Securing a bank loan for the expansion of Pecan Plantation  Talked to Interbank where we have a loan, includie this with the other note, reamortize it so that our note payment about the same. Cannot finance it beyond a year from May. Any discussion: Hankins "Gotta pay for it somewhere". Harrison. So hopefull we'll get that remodel. Reynolds: Approve the addition of this and the chairman to sign on behalf. ... Harper "Operating outside the district,I don't think we should be doing it, I think we shoudl only be doing things inside our own district". 5-1. 



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